IIA-CRMA-ADV Dumps (2023) Prepare Your Exam With 285 Questions
New IIA-CRMA-ADV Dumps - Real IIA Exam Questions
NEW QUESTION # 24
Which of the following is a detective control strategy against fraud?
- A. Implementing a control self-assessment.
- B. Requiring employees to attend ethics training.
- C. Performing a surprise audit.
- D. Performing background checks on employees.
Answer: C
NEW QUESTION # 25
Which of the following does not need to be defined in the internal audit charter?
- A. The scope of internal audit activities.
- B. The internal audit activity's position within the organization.
- C. Management and the board of directors' agreement regarding the roles and responsibilities of the internal audit activity.
- D. The audit engagements to be performed during the upcoming year.
Answer: D
NEW QUESTION # 26
A manufacturing organization discovers that the waste water released has failed to meet permitted limits.
Which control function will be least effective in correcting the issue?
- A. Posting signs that tell employees which substances may be disposed of via sinks and floor drains within the facility.
- B. Diluting pollutants by flushing sinks and floor drains daily with large volumes of clean water.
- C. Establishing a preventive maintenance program for the pretreatment system.
- D. Performing a chemical analysis of the water, prior to discharge, for components specified in the permit.
Answer: B
NEW QUESTION # 27
Which of the following is an activity that an internal auditor must not perform?
- A. Establish and provide continuing assurance on an anti-money laundering program for new hires.
- B. Provide assurance for the effectiveness of anti-money laundering training.
- C. Survey employees for their understanding of anti-money laundering practices.
- D. Assess the risk of being fined for ineffective anti-money laundering practices.
Answer: A
NEW QUESTION # 28
According to IIA guidance, which of the following individuals would best be considered independent for the purpose of participating in an external assessment of the quality assurance and improvement program for an internal audit activity (IAA)?
- A. An employee in the parent organization who has not had any previous contact with the IAA.
- B. An employee in an affiliated organization who has never worked directly with the IAA.
- C. A competent employee of an independent external organization that provides co-sourcing services to the IAA.
- D. A former employee knowledgeable of the IAA who resigned three years earlier from the organization.
Answer: D
NEW QUESTION # 29
A new director was hired to lead the internal audit activity at a small start-up company. Which of the following assignments would impair the director's independence?
- A. Providing the COBIT framework as a possible IT management tool.
- B. Preparing the financial statements for the company's defined contribution plan.
- C. Performing a pre-implementation review of the company's payroll application.
- D. Reviewing the company's policy for foreign currency translation adjustments for compliance with accounting standards.
Answer: B
NEW QUESTION # 30
An internal auditor is conducting an engagement in the accounts payable department, which includes expressing an opinion at the micro level. According to IIA guidance, which of the following statements is true regarding micro-level opinions?
1. They are most effective when using a combination of current and prior engagement findings to draw conclusions.
2. They typically are based on defined procedures such as those found in an accounts payable reconciliation process.
3. They are discrete and not normally shared with senior management or the board.
4. They can rely on evidence taken from the work of other assurance activities across the organization.
- A. 2 and 3.
- B. 1 and 2.
- C. 3 and 4.
- D. 1 and 3.
Answer: A
NEW QUESTION # 31
According to IIA guidance, which of the following should be included in the internal audit charter?
- A. Organizational relationships and reporting lines.
- B. The minimum resources and competencies needed for the internal audit activity.
- C. Identification of the organizational units where engagements are to be performed.
- D. Assigned responsibilities for designing and implementing controls.
Answer: A
NEW QUESTION # 32
What is the primary benefit to the internal audit activity for undertaking an internal quality assessment?
- A. To help improve the overall quality of the internal audit activity's work.
- B. To identify inefficiencies within the internal audit team.
- C. To help the internal audit activity complete its annual assurance plan.
- D. To identify key risks and areas of concern within the organization.
Answer: A
NEW QUESTION # 33
An internal audit charter should do which of the following?
- A. Establish the size of the internal audit activity.
- B. Communicate the internal audit activity's goals.
- C. Define the scope of internal audit activities.
- D. Outline the schedule of future audits.
Answer: C
NEW QUESTION # 34
An accounts receivable clerk receives cash payments, posts the payments to customer accounts, and prepares the daily cash deposit.
The clerk has been stealing some cash and manipulating the customer payments to hide the theft.
This fraud could be detected with which of the following controls?
- A. Names, amounts, and dates on remittance advices are reconciled with the names, amounts, and dates recorded in the cash receipts journal.
- B. Total cash deposits are compared with the bank reconciliation.
- C. Total cash deposits for the month are reconciled to the cash receipts journal.
- D. Monthly bank reconciliations are performed by the clerk on a timely basis.
Answer: A
NEW QUESTION # 35
Which of the following controls could an internal auditor reasonably conclude is effective by observing the physical controls of a large server room?
- A. Adequate signs are in place to assist in locating safety equipment.
- B. Servers are secured individually to their racks by locks.
- C. Swipe card access is required to gain access to the server room.
- D. Foam fire extinguishers are operable to protect against electrical fires.
Answer: A
NEW QUESTION # 36
An internal auditor completed an audit of a bank's loan department and found all significant risks to be managed adequately through effective internal controls. Which of the following would be an appropriate conclusion to report to management?
- A. The residual risk is higher than or equal to the risk appetite.
- B. The inherent risk is higher than or equal to the risk tolerance.
- C. The residual risk is lower than or equal to the risk appetite.
- D. The inherent risk is lower than or equal to the risk tolerance.
Answer: C
NEW QUESTION # 37
Which of the following is the most common method of fraud detection?
- A. Tips received from employees or citizens.
- B. Detective controls built into the daily processes.
- C. Analytical reviews of high-risk areas.
- D. Unannounced audits or reviews of programs or departments.
Answer: A
NEW QUESTION # 38
Which of the following techniques would provide the most compelling evidence that a safety hazard exists within a manufacturing facility?
- A. Analysis of facility operating reports, focusing on instances when breakdowns occurred.
- B. Review of records involving safety violations, filed by facility production employees.
- C. Observation of the facility during operations.
- D. Questioning of facility management, including the facility safety officer.
Answer: C
NEW QUESTION # 39
......
Get Ready with IIA-CRMA-ADV Exam Dumps: https://www.examsreviews.com/IIA-CRMA-ADV-pass4sure-exam-review.html
Dependable IIA-CRMA-ADV Exam Dumps to Become IIA Certified: https://drive.google.com/open?id=1xxnlUcQVWvaMzZWtla8q5l2FroVXYePH